Expect Big Changes to Retirement, Fiduciary Rules in 2019

January 8, 2019 by
Melanie Waddell

Retirement and tax-related changes as well as fiduciary-related standards from the Securities and Exchange Commission and the Labor Department are expected to top advisors’ and broker-dealers’ regulatory to-do lists in 2019.

While the House passed late on Dec. 20 a retirement and tax package, priming 2019 for much debate — and potentially big changes — for industry officials to digest in the new year, Senate passage of the measure is unlikely.

House Ways and Means Chairman Kevin Brady’s 257-page package includes the Retirement, Savings, and Other Tax Relief Act of 2018 and the Taxpayer First Act of 2018.

Brady, R-Texas, said in a statement after House passage that the bill includes tax relief for Americans hit by natural disasters, permanent solutions to two temporary tax policies, retirement and savings provisions, “relief” from multiple Obamacare taxes, bipartisan IRS reform, and “a few minor time-sensitive technical corrections” to the tax overhaul passed in 2017.